Eurowind Energy is excited to have signed a Shares Purchase Agreement in August for the acquisition of different projects totaling 11 PV projects of 5MW AC each. Most of the projects are aggregated in clusters of three (15MW each), and all of them are located in the Aveiro district, in the Center of Portugal.
With a PV park under operation (Triana) and a large portfolio of small generation PV plants (‘UPPs’) under construction, these new projects may allow Eurowind Energy to almost double its total installed PV capacity in Portugal, bringing close to 120 MW of green electricity.
The projects are currently at an advanced development stage and closing shall happen upon the first cluster of three projects reaching “ready to build” stage. The agreement allows the acquisition to materialize only for projects which reach that stage, meaning that, at the most, Eurowind Energy will acquire 55MW AC of projects.
The projects are being developed by Insun, an experienced PV developer with a track record of 2,5 GW already developed and sold in Portugal and Romania.
Should all projects be acquired and built, their overall production is anticipated to provide approximately 36.100 households with green electricity, while avoiding the emission of more than 30.800 tons of CO2 per year.
“The acquisition of the Aveiro PV projects is the result of hard work for the most part of one year, between our team and Insun. I’m glad that we had a long but smooth negotiation process thanks to both parties’ large experience in these kinds of deals. I’m thrilled about closing on this transaction and kicking off the construction of these projects within the end of this year” states Joaquim Pinto, Eurowind Energy’s Country Manager for Portugal.
According to Henrique Rodrigues, CEO of Insun, “It is a great pleasure to close this deal with such a reputable company as Eurowind Energy. It is easy to do business when both parties are trustworthy and have great knowledge of the sector.”
Eurowind Energy is currently preparing a tender process to award the construction of the “Balance of Plant”, encompassing all the civil, mechanical and electrical works, as well as the grid interconnection lines. Projects are expected to reach to “ready to build” stage between Q3 2024 and Q2 2025.
Besides their first operating PV plant in Alenquer and the clusters of small generation PV plants (“UPPs”) which are currently under commissioning or construction in the North and Center of the country, Eurowind Energy is developing a pipeline of renewable energy projects in Portugal of approximately 1GW which includes wind, solar, batteries and green hydrogen projects.
About Eurowind Energy A/S
Eurowind Energy A/S is a Danish company that specialises in developing, building and operating renewable energy parks. The group has more than 600 employees and has activities within wind, solar, hydrogen, power to X, biogas and battery solutions spread out in 17 markets in Europe and the USA.
About Insun
INSUN is a Portuguese company that has been developing solar projects since 2018. It only operates in Portugal and Romania and already has a portfolio of more than 2500MW.
For more information or interviews with senior management please contact Malene Petersen, Manager, communications and marketing at Eurowind Energy, [email protected] or +45 30101117.
